USD/CAD
Strategy: Long at 1.0558, Targeting 1.0875
Weekly Profit / Loss: +88 pips
Total Profit / Loss: +63 pips
We entered long USDCAD at 1.0558. Although bullish momentum has not materialized in earnest, the consolidation of recent weeks has formed a bullish ascending triangle formation, hinting that the direction of the eventual breakout is likely to favor bulls. We will remain long, continuing to target the 11/02 wick high at 1.0875. A stop-loss will be activated on a daily close below 1.0415.
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